Overall market trend: Bullish phase – day 7
Yesterdays market: Money leaving the market – High selling pressure
TC2000 McClellan: 65 cooled off but still elevated end of range
Stocks above 40PMA: 59%
VIX: 20
Seasonality: April is typically a strong month
Indices:
$QQQ: Uptrend
$IWM: Uptrend
$SPY: Uptrend
$DIA: Uptrend
$BTC: Uptrend
$SQQQ: Downtrend
$UVIX: Downtrend
1%+ sectors yesterday:
- $HACK +1.59%
- $XLE +1.45%
1%- sectors yesterday:
- $JETS -2.90%
- $XLU -1.75%
- $TAN -1.57%
- $KRE -1.43%
- $XLI -1.41%
- $XLV -1.02%
- $IBB -1.01%
Main sectors monthly trailing:
- Leading – $XLY $XLK
- Lagging – $XLE $XLU
Sub sectors monthly trailing:
- Leading – $SMH $IYT
- Lagging – $TLT $TAN
Bitcoin: Under the 200sma at 78k ish
Themes: Semis, Tech, Metals, Retail
Are breakouts likely to work for the next 3 – 5 days: Yes but expect some backfill / consolidation
Are breakdowns likely to work for the next 3 – 5 days: No, unless war related
Should I be trading: Yes, overbought conditions eased with 20% study back below 100
Stock goat 